Instant payments are becoming a reality, driven in large part by consumers’ and business’ desire for payments that settle in seconds. FedNow, the Federal Reserves’ real-time payments solution, is in pilot today and scheduled for release in 2023. Financial institutions must use FedNow within seven years.
For financial institutions, the benefits of instant payments include the ability to offer new revenue generating mobile and online P2P payment options, improve customer satisfaction and retention, reduce costs and risks, and minimize the volume of payments traveling through closed-loop payments systems that disintermediate banks.
Preparing for instant payments through FedNow means addressing technology, operational, compliance, and organizational readiness. To evaluate where you are today and where you need to be, download this white paper and get ready to take advantage of the benefits of instant payments.
05/31/2023
Fenris Digital is a new InsurTech company focused on improving the customer journey at the point of quote. Fenris maintains one of the largest insurance data repositories in the industry. Using records on over 255 million adults, 130 million households, and 50 million small businesses, the Fenris pre-fill data API helps reduce the average application question set from 50 to just five.
Read more
05/31/2023
Our client manages the end-to-end lifecycle for visa applications on behalf of governments across the world. Ippon was brought in to modernize the visa application platform to enable scaling for US federal government use. Ippon adapted the application to make it run within AWS GovCloud and be authorized to receive an Authority To Operate (ATO) from the US federal government. Without these changes, the application would not be usable by what would end up being the largest potential customer for our client: the US State Department.
Read more
05/31/2023
This customer is a top credit card issuer in the US. They used an antiquated system to track their fraud and dispute cases. The system required licensing fees and was expensive to change for new business requirements. Our solution required building a new “Case-as-a-Service” platform with modern technology that was easy to change and usable by the entire enterprise. This case system handled any type of case management required among all lines of business. The customer’s primary business is credit cards, but they also have retail and commercial banking divisions. The customer prides themselves on being leaders in technology within banking. This same customer also has fully adopted the cloud and has exited data centers entirely.
Read more